Faisal Masud, CEO of e-commerce startup Fabric, says he climbed up the ranks at Amazon Inc (NASDAQ:AMZN) and Google – Alphabet Inc (NASDAQ:GOOGL) – and learned everything he could about their business cores to develop a company currently worth over $1.5 billion.
Masud told CNBC that, after becoming CEO of the company, he worked hard to implement every drop of knowledge he acquired by working at these two tech giants. He implemented a culture of success, empathy, and efficiency, which has taken Fabric to achieve a solid market cap.
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The entrepreneur said, “Culturally, we’ve built a company that’s sort of a hybrid of all the companies I’ve worked at. We’re able to take the best pieces out of the places I’ve had experiences and apply those.”
Fabric creates e-commerce software that is currently challenging well-established platforms such as Salesforce Inc (NYSE:CRM) and Shopify Inc (NYSE:SHOP).
His approach to culture is a direct result of his 10-year stint at Amazon, and he underlines how work culture can directly exert a positive impact on results and success.
Masud said he founded part of his success by following one of Jeff Bezos’ leadership principles, “ownership.”
“When something failed, it was nobody’s fault. When something was successful, everybody got to celebrate. That’s not how start-ups work. Someone has to make a decision.”
After a successful career at Amazon, he joined Google where he picked up the one of the company’s more essential values, “empathy.”
“Being very empathetic towards your employees was also very important, because that’s something Google does really well,” he said.
Empathy is, according to him, the most important and long-lasting value he wants to instill in Fabric’s work culture, for which he has come up with the mantra, “Seek to understand before being understood.”
“Listening attentively, versus just because you have to, brings about a thought process that’s different to just executing quickly. Our culture is sort of embedded in the fact that we’re good listeners. But we also use data and facts to make our decisions at the end of the day.”